Bitcoin Plunges Below $27,000, Which Holder Groups Are Selling?

Bitcoin Plunges Below $27,000, Which Holder Groups Are Selling?

Bitcoin has plunged below the $27,000 mark during the past day. Here are the market segments that are possibly participating in this selloff.

These Bitcoin Investors Have Been Spending Their Coins Recently

In a new tweet, the on-chain analytics firm Glassnode has broken down the prices at which the average coins sold today were bought. Generally, the BTC market is divided into two main segments: the long-term holders (LTHs) and the short-term holders (STHs).

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The STHs comprise a cohort including all investors who acquired their Bitcoin within the last 155 days. The LTHs, on the other hand, are investors who have been holding for more than this threshold amount.

In the context of the current discussion, the relevant indicator is the “dormancy average spending ranges,”

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